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World Bank slashes global growth forecast to 2.9%, warns of ‘stagflation’ risk
The war in Ukraine had magnified the slowdown in the global economy, which was now entering what could become “a protracted period of feeble growth and elevated inflation,” the World Bank said in its Global Economic Prospects report, warning that the outlook could still grow worse.
Last month German Foreign minister Annalena Baerbock, a leader of the Green Party, which entered a coalition government last fall with Prime Minister Olaf Scholz’s Social Democrats, pledged that Germany would stop importing oil from Russia by the end of 2022, and wean itself off Russian natural gas as soon as possible. In the short-term, that may mean finding alternative suppliers for fossil fuels, including the United States.
BY BART STAR-JAMES United States President Joe Biden does not seem to know where he is as history slowly turns its wheels of fortune to the east. A talking head of him or an acolyte frequently appears on our screens spewing out threatening diatribes of vindictiveness and sanctions against Russia completely oblivious of the imminent […]
Just 10 days ahead of a runoff that will determine who will lead the European Union’s second-largest economy for the next five years, polls show the centrist president is slightly ahead of his far-right rival, but the contest promises to be tight.